The Alberta Securities Commission has issued a new authorization of the powers and duties of its directors.

The new authorization, effective September 20, has been expanded to permit the directors to issue interim cease trade orders in certain circumstances, specifically for failing to file a broad range of continuous disclosure documents.

The expanded powers are needed to empower the ASC directors in accordance with the new continuous disclosure regime that was implemented on March 30 for reporting issuers other than investment funds.

The new authorization has also been expanded to add general counsel and the deputy director, legislation to the list of directors.